Page 34 - Saginaw FY19 Annual Budget
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CITY OF SAGINAW
BUDGET HIGHLIGHTS
2018-2019
Beautification funding will be used for a plan update ($30,000) and for City signage
($40,000) on the Ardent Mills silo.
GENERAL ESCROW FUND
The General Government Escrow Fund was created in FY 2014-2015 to better track
funds that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund are: hotel/motel tax, court technology fees, court security fees, gas
production proceeds, and insurance deductibles and settlements.
The equipment replacement for the General Fund will be accounted for in the General
Escrow Fund. The equipment replacement escrow will begin in FY18/19. The annual
contribution will be based on the useful life of the purchased asset and the estimated
replacement cost. Funding for the replacement of equipment purchased beginning in
FY18/19 will be in the equipment replacement escrow, as long as the annual
contribution is made. The contribution for General Fund equipment in FY18/19 will be
$28,905.
Revenues are budgeted at $120,915.
Budgeted expenditures include the Chamber of Commerce support ($5,000), a
contribution to revive the “Train and Grain” festival ($10,000), a transfer to the General
Fund for court security (Bailiff $5,000), the replacement of four hand held ticket writers
($14,000), and insurance deductibles/repairs ($40,000).
WATER/WASTEWATER ESCROW FUND
The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track funds
that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund include water and wastewater impact fees.
The equipment replacement for the Enterprise Fund will be accounted for in the
Enterprise Escrow Fund. The equipment replacement escrow will begin in FY18/19.
The annual contribution will be based on the useful life of the purchased asset and the
estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY18/19 will be in the equipment replacement escrow, as long as the
annual contribution is made. The contribution for Enterprise Fund equipment in
FY18/19 will be $14,485.
$155,000 in water impact fees will be transferred to the Enterprise Fund for the design
of Saginaw Boulevard 16” water line phase 2 project.
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